Corporate financial statements b.v.raghunandan
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Corporate financial statements b.v.raghunandan

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deals with the vertical format of final accounts in India

deals with the vertical format of final accounts in India

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  • 1. Corporate Financial Statements B.V.Raghunandan, SVS College, Bantwal
  • 2. Preparation of Financial Statements• As per the provisions of Companies Act• Compliance with Accounting Standards prescribed by National Advisory Council on Accounting Standards• A profit and loss account and• A Balance Sheet arranged by the Schedules provided in the Companies Act• Vertical Format as contained in Schedule VI to Companies Act
  • 3. Specimen of Vertical Format of Balance Sheet Amount Amount Schedule Sources of Funds (Current (Previous No Year) Yr)I Shareholders’ Funds:(a)Share Capital 1(b)Reserves & Surplus 2II Loan Funds: 3(a)Secured Loans(b)Unsecured Loans ------------ --------------- ------------ Total ------------ --------------- ------------
  • 4. Specimen of Vertical Format of Balance Sheet Amount Amount Application of Funds Schedule No (Current Year) (Previous Yr)I Fixed Assets 4II InvestmentsIII Current Assets:(a) Inventories 5(b) Sundry Debtors 6(c) Cash & Bank 7(d) Other Current Assets(e) Loans & Advances 8(-) Curr. Liab& Provisions: (a) Current Liabilities 9 (b) Provisions 10IV.Misc. Expenditure 11 ---------- --------------- ------------Total ------------ --------------- ------------
  • 5. Schedule 1: Share Capital AmountAuthorised:…………… Shares of Rs…………….each -------------------------------Issued:………….. Shares of Rs……………..eachSubscribed:………….. Shares of Rs…………….eachCalled Up and Paid-Up:………….. Shares of Rs…………….. Each ------------------------------(-) Calls-in-Arrears -------------------------------Paid-Up -------------------------------
  • 6. Schedule 2: Reserves and Surplus Amount General Reserve - Profit & Loss Account Dividend Equalisation Fund Investment Fluctuation Fund Debenture Redemption Fund Workmen Compensation Fund ------------------------------- -------------------------------
  • 7. Schedule 3:Secured Loans Amount1. Debentures -2. Loans & Advances from Banks3. Loans & Advances from Subsidiaries4. Other Loans & Advances ------------------------------- Total -------------------------------
  • 8. Schedule 4: Fixed Assets Amounti. Goodwillii. Landiii. Buildingsiv. Leaseholdsv. Railway Sidingsvi. Plant & Machineryvii. Furniture & Fittingsviii. Development of Propertyix. Patents, Trade Marks and Designsx. Livestockxi. Vehicles ------------------------------- Total
  • 9. Schedule 6: Sundry Debtors AmountSundry Debtors:A) Debts Outstanding for More than Six MonthsB) Others(-) Reserve for Doubtful Debts(-) Reserve for Discount on Debtors ------------------------------ Total -------------------------------
  • 10. Schedule 7: Cash & Bank AmountCash in HandBalances with Bank ------------------------------ -------------------------------
  • 11. Schedule 8: Loans & Advances AmountPrepaid ExpenseLoans to SubsidiariesTax Deducted at SourceAdvance Payment of TaxAdvances to Staff ------------------------------- -------------------------------
  • 12. Schedule 9: Current Liabilities Amount1) Acceptances/Bills Payable -2) Sundry Creditors3) Unclaimed Dividends4) Other Liabilities ------------------------------ ------------------------------- -
  • 13. Schedule 10: Provisions Amount1) Provision for Taxation2) Proposed Dividends3) Contingencies4) Provident Fund Scheme5) Staff Benefit Schemes6) Other Provisions ------------------------------ -------------------------------
  • 14. Schedule 11: Miscellaneous Expenditure Amount1) Preliminary Expenses2) Share or Debenture Issue Expenses3) Discount on Issue of Shares4) Interest Paid out of Capital5) Development Expenditure6) Profit & Loss Account7) Other Items ------------------------------ -------------------------------
  • 15. Vertical Form of Profit & Loss AccountParticulars Schedule Current Yr Previous Yr No Figures FiguresIncome Sales 12 Other Income 13Increase/Decrease in Inventory 14 Total Income ------------------- -------------------- ---------------------Expenditure: ------------------- -------------------- ---------------------Cost of Material 15Staff Salary 16Other Expenses 17Interest 18Depreciation 19 -------------- Total Expenditure --------------
  • 16. Schedule Fig. of Fig. Prev Particulars No Cur. Yr Yr1) Profit Before Taxation & Extraordinary Items (Income-Expenditure)2) Extraordinary Items -20-3) Profit for the Current Year4) Prior Period Adjustments -21-5) Profit Before Taxation6) Profit of the Previous YearTotal Profit Available forAppropriations
  • 17. Schedule Fig. of Fig. Prev Particulars No Cur. Yr YrAppropriations:Proposed DividendTransfer to Statutory ReserveTransfer to General ReserveTransfer to Debenture Redemption ReserveTotal Profit carried down
  • 18. Thank You